August,Inc

question 84

Multiple Choice

August,Inc.had the following transactions in 2018,its first year of operations: • Issued 22,000 shares of common stock.The stock has a par value of $3.00 per share and was issued at $16.00 per share.
• Issued 1800 shares of $160 par value preferred stock at par.
• Earned net income of $37,000.
• Paid no dividends.
At the end of 2018,what is total stockholders' equity?

• A) $677,000
• B) $354,000
• C) $286,000
• D) $640,000

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Definitions:

KMnO4

Potassium permanganate, a strong oxidizing agent used in a variety of chemical reactions and as a disinfectant.

Hg(OAc)2

Mercury acetate, a chemical compound used in organic chemistry as a reagent, particularly in reactions involving carbocations.

NaBH4

Sodium borohydride (NaBH4) is a reducing agent commonly used in organic synthesis to reduce aldehydes and ketones to alcohols.

Raney Nickel

A finely divided nickel alloy used as a catalyst in hydrogenation and other chemical reactions.